Looking to diversify beyond ETEGX? The mutual funds below have historically moved differently from ETEGX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for ETEGX
6 mutual funds have low correlation with ETEGX (below 0.3), 0 of which are negatively correlated. The least correlated is Eaton Vance Global Macro Absolute Return Fund (EIGMX) (Nontraditional Bonds) with a 1Y correlation of 0.10, roughly unchanged from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Eaton Vance Global Macro Absolute Return Fund | 0.10 | 0.15 | 0.09 | 99 | Nontraditional Bonds | ETEGX vs EIGMX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.15 | 0.20 | 0.12 | 98 | Nontraditional Bonds | ETEGX vs EGRIX | |
| Federated Hermes MDT Small Cap Growth Fund | 0.18 | 0.51 | 0.70 | 71 | Small Cap Growth Equities | ETEGX vs QISGX | |
| Federated Hermes MDT Small Cap Growth Fund Class A | 0.19 | 0.51 | 0.70 | 68 | Small Cap Growth Equities | ETEGX vs QASGX | |
| Eaton Vance Massachusetts Municipal Income Fund | 0.25 | 0.15 | 0.13 | 78 | Municipal Bonds | ETEGX vs EIMAX |
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